OCR Text |
Show Enterprise Review, January 28, 1976 Pape Eight date the lenders needs and the desires" provided is consistent with the gov- emments insurance obligations. Provide a substitute for the burdensome cost cation requirements of multifa-thi- s milv projects, Require HUD to evaluate (continued from page 9) certifi-consunie- Long Term Yields rs percent Reduce the numlier of residential mortgage programs from 40 to 4. Speed the processing of loan applications by qualified lenders. Remove statuatorv ceil- ings on loan ratios by depending on administrative decisions to assure that downpayments support an insurable risk. Allow the amount of insurance premiums to be adjusted to fit the degree of risk, and allow them to be paid in a form and at a time that will accomo- - Financial Summary Patrick J. Vacitlin declined for the fourth straight auction as the Federal National Mortgage Association issued by $63.6 million commitments to both purchase convenand tionally financed home mortYields four-mon- 1973 1971 1975 th govem-ment-liack- ed gages. FNMA reported the corporation issued $31.5 million in HteWMifts Certificate on mortgages at an average yield of 9.133, w'hich converts to an average price of commitments 97.35 for 8 govem-ment-l)ack- 34 ed FIIAVA mortgages. (The average in the previous auction was 9.291.) The range of accepted bids svas 9.099 (97.58) to 9.290 (96.29). FNMA received 140 FIIAVA bids totaling $58.4 million and accepted 109 bids, including 83 noncompetitive. A draft bill was recently sent to Secretary Carla Hills by . the consulting firm of Semer & Zimmerman. The bills calls for drastic changes in the federal approach to housing. The proposed bill seeks to revitalize FT! A insurance mortgage operations. The draft bills main provisions would: Clearly separate all special risk insurance programs from regular operations. Eliminate interest rate ceilings. Short Term FIIA The longer you leave your money in a Versatile Bonus Benefit Certificate, the higher the interest rate retroactively... all protected up to 10,000. A Prices Average Price Bonus Benefits begin after the first year with interest compounded monthly from the date of original investment as follows: PROTECTED CERTIFICATES ISSUED IN AMOUNTS FROM $1,000 to $10,000. Short Term FHAVA Yield Average Yield YOU GET MAXIMUM EARNINGS AND PROTECTION WITH CAPITOL'S VERSATILE BONUS BENEFIT PLAN Accounts protected up to a maximum of ten thousand dollars by the Industrial Loan Guaranty Corporation of Utah, a private corporation which is not an instrumentality of the State of Utah or of the federal government. Assumes all interest is held for compounding. uDOraoro GG3E) (USGG3 iGEEDQEB ofoininaaataift i!I0l(D3EP oiBiosQ omssiEsia asaEBjn Date 9-- 8 9-2- 2 10--6 10-2- 2 11-1- 7 12-- 1 12-1- 5 12-2- 9 M2 J |